Parliamentary Economy: category 50 thousand dinars, contrary to what approved by the Finance and Central Bank

11-17-15



{Baghdad: Euphrates News} considered the economic and investment commission in Parliament to issue a class of 50 thousand dinars, contrary to what was approved by the Ministry of Finance and the Central Bank on the deletion of zeros from the currency.

The Deputy Chairman of the Committee Harith Chanchal told {Euphrates News} Today, there are large errors in monetary and fiscal policy in the country, noting that the issuance of the currency of the 50th class thousand dinars contrary came as approved by the Ministry of Finance, and the Governor of the Central Bank of the deletion of zeros from the currency.


And that when bigger currency will be weak in, and will use some of the smugglers to draw them out of the country, and that will affect the strength of the Iraqi dinar.

He explained that the issuance of the 50 dinars category will contribute to an increase of inflation in the country, likely cancel after the end of the financial crisis that has plagued Iraq by the fall in oil prices.

The bank CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the development of high-class value in circulation.


It is said that the parliamentary finance committee, said earlier that the Central Bank of Iraq in connection with the introduction of new process 100 class thousand dinars after the issuance of 50 thousand dinars category. It ended 1 h



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